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Obama Signs H.R. 8 Into Law to Extend Tax Rates, Postpone Sequester

President Obama Jan. 2 signed into law the American Taxpayer Relief Act of 2012 (H.R. 8)that permanently extends the current tax rates for individuals earning up to $400,000 and that postpones automatic, across-the-board spending cuts for two months. The president, who is vacationing in Hawaii, directed that the legislation be signed using an autopen. According to a White House official, the bill was received late in the afternoon after the president was already in Hawaii. A copy was delivered to the president, he reviewed the copy, and then directed the legislation to be signed by autopen, the official said.

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